Hanesbrands to redeem 4 5/8% senior notes due 2024 on March 8

By Mary-Katherine Stinson

Lexington, Ky., Feb. 6 – Hanesbrands Inc. will elect to exercise its optional redemption rights to redeem all its outstanding 4 5/8% senior notes due 2024 in the original total principal amount of $900 million, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed at par plus the applicable premium and accrued interest, if any, on March 8.

U.S. Bank Trust Co. is the trustee.

The redemption is conditioned on the completion of one or more debt financings that provides enough net proceeds to fund the redemption.

Hanesbrands is a Winston-Salem, N.C.-based marketer of everyday basic apparel.

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